Medical perfusion products are used to temporarily replace the functions of heart and lungs during cardiac and thoracic surgery procedures. Sophisticated medical perfusion techniques and better perfusate may lead to organ repair or reconditioning. Medical perfusion is a technique used in organ transplantation. Machine perfusion has been applied to renal transplantation. Liver transplantation and lung transplantation. The medical perfusion technology is mostly used in bypass cardiopulmonary systems to treat the patients with cardiac and respiratory diseases and helps to maintain the continuity of blood and oxygen circulation in the body during the surgery of heart and lungs. During major surgery, perfusion must be maintained by health professionals.
MARKET DYNAMICS – EUROPE MEDICAL PERFUSION TECHNOLOGY MARKET
European medical perfusion technology has experienced effective growth since so long. Factors like increasing practices of organ transplantation rise in prevalence of cardiovascular diseases driving the growth of the market. For instance; according to European society of cardiology (ESC), each year cardiovascular disease causes 3.9 million deaths in Europe. Also growth in geriatric population, rising participation from industry players to launch new products, also propels the growth of the market. However, expensive transplant surgeries may hamper the growth of the market.
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COVID-19 IMPACTS ON EUROPEAN MEDICAL PERFUSION TECHNOLOGY MARKET
The exclusive COVID-19 impact analysis report by axiom MRC provides a 3600 analysis of micro and macro-economic factors on the medical perfusion technology market. In addition, complete analysis of changes on medical perfusion technology expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on European economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 has negative impact on global medical perfusion technology market. To control the spread of COVID-19 and to optimize hospital resources so many medical procedures are getting postponed which causes limiting use of medical devices such as medical perfusion system devices. Also process of lockdown have severe impacts on new product launches and distribution. Therefore, these factors hamper the growth of the market.
EUROPEAN MEDICAL PERFUSION TECHNOLOGY MARKET SEGMENTAL OVERVIEW
The European medical perfusion technology market has studied the segments by technique, organ type, component, and country.
MEDICAL PERFUSION TECHNOLOGY MARKET BY TECHNIQUE
European medical perfusion technology market is segmented into two major types such as hypothermic machine perfusion and normothermic machine perfusion. Hypothermic machine perfusion is anticipated to dominate the market. Whereas, normothermic machine perfusion segment is anticipated to register the highest CAGR in the market during forecast period. Also, demand of normothermic perfusion machines has increased because this machine enables the directed delivery of therapeutics to the kidney during perfusion while metabolic processes are going on. This enhances the demand of the segment.
MEDICAL PERFUSION TECHNOLOGY BY ORGAN TYPE
European medical perfusion technology is segmented into various organ types such as heart, kidney, liver, and lungs. The organ segment is dominated by kidney owing to the increasing cases of chronic kidney diseases. However heart segment is estimated to register highest CAGR in the market during forecast period.
MEDICAL PERFUSION TECHNOLOGY BY COMPONENT
By component, medical perfusion market is segmented into perfusion pumps, oxygenators, heart-lung machines, and monitoring system. The component segment is dominated by oxygenators in 2020 and is expected to witness high growth rate during forecast period. Increasing cases of COVID-19 patients, rising demand to to treat such the patients in ICU or CCU and thereby increased demand for oxygenators is growing. This is in turn impelling the market growth.
MEDICAL PERFUSION TECHNOLOGY BY COUNTRY
Country wise, the study is comprised of the key countries such as the Germany, the UK, France, Spain, Italy and rest of Europe. Country segment is dominated by Germany as healthcare is one of the largest economic sectors in the Germany. Factors like established medical technology, advancement in healthcare sector, availability of funding’s for research and development and high numbers of manufactures are also available in Germany are further expanding growth of the segment in the region.
KEY PLAYERS OF MEDICAL PERFUSION TECHNOLOGY MARKET
Major Key players of medical perfusion technology market are Getinge AB, Medtronic, LivaNova PLC, XVIVO Perfusion, Terumo Cardiovascular Systems Corporation, OrganOx Limited, Waters Medical Systems, TransMedics, Organ Recovery Systems, XENIOS AG, Paragonix Technologies, Shanghai Genext Medical Technology, Transplant Biomedicals SL and Dr. Franz Köhler Chemie GMBH among the others.
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